"The Corn Refiners Association applauds the efforts of Senators Max Baucus and Orrin Hatch and Congressman Dave Camp and their staffs for their hard work in creating the updated TPA legislation," said John W. Bode, president and CEO of the Corn Refiners Association.

"We urge Congress and the Administration to move swiftly in the enactment of this legislation."

Since President Franklin D. Roosevelt Administration, every President has had authority from Congress to negotiate trade agreements.

Congress last enacted TPA in 2002, and it expired in 2007.

By updating TPA legislation, Congress will help define the principal negotiating objectives that will lead the U.S. in achieving successful trade negotiations.

The United States is currently working on two major trade negotiations, including the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership among others.

"Having an updated TPA is instrumental in moving market access negotiating forward that lead to new opportunities for the corn refining industry," Bode concluded.